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Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lower prices. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) was up by 1.78% to 1,882 points. Capesizes were once again the strongest performers, with the relative Baltic Capesize Index (BCI) rising by 3.64% yesterday, to reach 3,529 points. Panamaxes also gained 0.36% to increase to 1,693 points. By contrast though, the smaller ship types still seem to suffer, with Handysizes falling once again, this time by almost 1% on the day, with the relative index now at just 606 points. Similarly, Supramaxes shed an additional 2.35% to end the session at 1,248 points.
In a report this week, Intermodal’s George Bassakos said that it has definitely been a bumpy road for shipping this year. The devastating floods in Australia and the lethal tsunami in Japan earlier in the year, were the worst omen but reality proved totally different. Not for all though.... Capes rebounded strongly with fronthaul rates reaching or surpassing the USD 50,000/pd mark (rates not seen again after the party of 2007/2008). Smaller sizes didn’t exactly share the same euphoria but managed to perform relatively well helping the BDI to score a near 80pct increase from February's lows (bit over 1000points) to current highs over 1800 points said Mr. Bassakos.
Raising the question of whether it will be V for Victory… or W for double dip, he mentioned that «it that the market itself reacted spontaneously to overcapacity fears and managed to auto-adjust with increased scrapping (almost 70 capes have been scrapped so far this year), lower ordering and postponed deliveries - for how long though? The demand side of the equation stood particularly well outperforming supply so far, but the headlines from Europe and the United States are not that encouraging for the years to come he said.
Regarding demolition activity during the past week, shipbroker Golden Destiny said in a report that activity remained at low levels again this week with 9 vessels reported to have been headed to the scrap yards of total deadweight of as low as 297,012 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 10% week-on-week decrease and regarding the total deadweight sent for scrap there has been a 21 % decrease. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker sector again by Pakistan for a tanker of 135,915 dwt “FRONT BETA” with 23,563/ldt at $505/ldt. While Bangladesh still remains close and the future of this market will most likely be decided from the next year, India attracted 44% while China and Pakistan followed. At a similar week in 2010, demolition activity was at even lower levels, in terms of the reported number of transactions, with 4 vessels had been reported for scrap of total deadweight 65,716 tons” said the Piraeus-based shipbroker.
In turn, Intermodal said that despite the worsening conditions and considerably poor sentiment circulating the demolition market, it seems as though there was a very slight upswing in offered levels coming from Indian breakers. This seems to have only been in order to secure some high profile units from Pakistani breakers and take the lead in the market, as overall price levels look to be very week and could possibly drop further in the coming days as pressure continues to mount from the poor exchange levels, dropping commodity prices and uncertainty over the Bangladesh market. With respect to the final of these it now looks as though the date for the court hearing has been scheduled for the 14th December while the way things are going it might be further delayed and rescheduled for the new year. Offered Prices were overall stable this week, with wet tonnages holding at about 400-490$/ldt and dry units seeing levels of around 380-460$/ldt said the shipbroker.
In terms of newbuilding activity, Intermodal mentioned that «things are still holding fairly subdued while as we get closer to the holiday season we will likely see the number of enquiries drop further. Despite the heavy marketing pushed by Chinese shipbuilders on the new “eco” designs, we have not yet seen a surge in demand and it seems as though many yards will be closing the year without having reached the initial order targets for 2011 and as many have still a considerable amount of open slots for 2013 and beyond, it will be no surprise if their marketing efforts intensify within 2012. With regard to reported orders this week, Greece’s Polembros seems to be keen on exploiting the low asset values and newbuilding prices while likely holding a firm outlook on the prospects of the Capesize and VLOC market after its recent upward rally, having exercised his two options for newcastlemax (206,000dwt) bulkers this week at China’s Shanghai Waigaoqiao shipyard it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PTC India Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
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